Headlines

Stephen Hayes

Remember when Obama said tax hikes were the worst thing to do in a bad economy?

When Obama warned about the consequences of raising taxes, the economy was moving away from recession—growth in the fourth quarter of 2009 was nearly 6 percent. Today, however, economic growth has slowed to less than 2 percent. Even before the horrible June jobs report, economists were warning about the “substantial” possibility of a double-dip recession. Many others agreed after the news last week. “In addition to the shock value…we need to seriously question whether a double-dip is there,” David Ader, chief treasury strategist at CRT Capital, told CNBC. “I would say it’s back on the table.”

If raising taxes in a recession would be “the last thing you want to do,” wouldn’t raising taxes in a struggling economy teetering on a double-dip be the second last thing you’d want to do?

Obama made a similar argument in December, when he signed the bipartisan tax relief agreement – a deal that maintained Bush tax rates (even for the wealthy) and included additional tax breaks for businesses. “Millions of entrepreneurs who have been waiting to invest in their businesses will receive new tax incentives to help them expand, buy new equipment or make upgrades – freeing up other money to hire new workers.”

Obama: So he is absolutely right, the last thing you want to do is to raise taxes in the middle of a recession because that would just suck up — take more demand out of the economy and put businesses in a further hole.

If raising taxes in a recession would be “the last thing you want to do,” wouldn’t raising taxes in a struggling economy teetering on a double-dip be the second last thing you’d want to do?

Stephen, Stevie, Stevo! Yes, but……we’re on the right track, slow, but headed in the right direction. A good dose of “new revenues” and “savings in the tax code” is what will get this economy going! Do you need Goolsby to explain it to you?

If raising taxes in a recession would be “the last thing you want to do,” wouldn’t raising taxes in a struggling economy teetering on a double-dip be the second last thing you’d want to do?

Stephen Hayes

Don’t use logic, Steve. That assumes that Obama is an honest President whose motives are only to do what’s best for the country. Clearly that is not the case, no matter what Michael Medved tells you.

Obama voted against, and then voted to filibuster, two highly qualified Bush appointees to the Supreme Court. This wasn’t an honest opinion on their qualifications — it was a dishonest, partisan sop to his fringe left supporters. When he appointed his own — visibly unqualified — candidates, anyone who voted against these hags was considered a rank partisan. Like Obama, right?

I mean what else could it be if it’s got the O’s fingerprints all over it?

BlueCollarAstronaut on July 11, 2011 at 1:58 PM

Bush….

Need I go on?

upinak on July 11, 2011 at 2:03 PM

Maybe I’m confused, but I think I was too vague with my comment.

I was snarkily picking on the hypocrisy of Obama w/r/t the headline. I meant to ironically suggest tax hikes are justified now, becuase we’re no longer in a “bad” economy. Now that Obama’s taken ownership of the economy, it is by definition, a “good economy” …because he’s the the LightBringer, almost god-like, some say 🙂